China's consumer price index climbs 0.7% YoY in March 2023: NBS

11 Apr '23

1 min read

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Insights

China's consumer price index (CPI) rose by 0.7 per cent YoY in March, slowing from February's 1 per cent rise.
The mild inflation was attributed to ample supply in the consumer market as production and living orders recovered.
Clothing expenses grew, while non-food prices remained flat.
However, China's producer price index fell by 2.5 per cent YoY in March.

China's consumer price index (CPI) rose by 0.7 per cent year-on-year (YoY) in March 2023, according to the National Bureau of Statistics (NBS), indicating a slowdown from February's 1 per cent increase. The monthly consumer prices declined by 0.3 per cent, a decrease of 0.2 percentage points from February.

This mild inflation was due to ample supply in the consumer market as the country's production and living order continued to recover in March, Chinese media reports said quoting the NBS.

Non-food prices remained flat, while clothing expenses increased. Furthermore, China's core CPI, which excludes food and energy prices, rose by 0.7 per cent YoY last month. In contrast, the country's producer price index, which measures costs for goods at the factory gate, fell by 2.5 per cent YoY in March.

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